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Nov 12, 2013
11/13
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to steve's point, momentum is broken. to tim's point, he makes great points. he made the same points last week. i thought if he held 140 and bounced that would be a good ind dags that maybe we would get another bounce. so me it's dicey. you have to pick a level. if the levels don't hold you get out and if you miss a move you miss a move. the trade in terms of mo men tem is completely over. >> there have been other times where the stock has lost over 20%. investors just say i'll take a look. i will miss this trade. i will buy it over 200 on momentum. >> the valuation is really the big problem here. when you look to invest in growth companies where the current fundamentals don't necessarily justify the stock price, what you're hope something you get to buy the entire prize where some future performance may give you two, three, four times your money. in this particular case the size of the business makes that somewhat less likely. you're forecasting that the valuation is going beat bmw or larger and i think that really is asking quite a lot given how small the bu
to steve's point, momentum is broken. to tim's point, he makes great points. he made the same points last week. i thought if he held 140 and bounced that would be a good ind dags that maybe we would get another bounce. so me it's dicey. you have to pick a level. if the levels don't hold you get out and if you miss a move you miss a move. the trade in terms of mo men tem is completely over. >> there have been other times where the stock has lost over 20%. investors just say i'll take a...
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Nov 17, 2013
11/13
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steve forbes, rich karlgaard, sabrina schaefer, rick unger, steve. can we trust these folks? >> no. trying to reinstate the program now is a nightmare. it will not be more a few months. it will be several years in the future. this is a fix to get through the next election. it will be a big mess and it will get bigger. this is collapsing on its own. >> rick, how do you trust people who have broken so many promises? >> not a good week to be a defender of the house, is it? >> the reality is whether you can trust them or not, that is not the issue as the perception. right now, americans are not trusting the administration. in politics, however, things change. something will happen next. if they do the right thing and they handle it well, they will dig out of it. if they don't, he has a big problem. face it. >> he does. emac, specifically one promise that he made, when apparently he had information that contradicted that promis july 2010, a report was out that 4 to 67% of individual policies would be canceled. i.r.s. report, obamacare report he had three-and-a-half years ago. since when
steve forbes, rich karlgaard, sabrina schaefer, rick unger, steve. can we trust these folks? >> no. trying to reinstate the program now is a nightmare. it will not be more a few months. it will be several years in the future. this is a fix to get through the next election. it will be a big mess and it will get bigger. this is collapsing on its own. >> rick, how do you trust people who have broken so many promises? >> not a good week to be a defender of the house, is it?...
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Nov 23, 2013
11/13
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gerri: steve hopkins wanted to sign up for obamacare. she had a plan, wanted to see what she could get. sh ended up on medicaid. did not wann to be there. no desire to do that. now she is mad. what do youay? >> i wish i had a dime for every time someone told me that. they signed up for obamacare subsidies and have been essentially put into the medicaid system. a lot of americans are not familiar with how bad it is, but let me give you some examples. the mayo clinic, the best health care -- i mean, the best cancer treatment in theorld does not take medicai in some cases it does not even take medicare. yes, you get health insurance, but you're not getting health care because a lot of these doctors and thereatment centers wanted to coverage. gerri: absolutely right. cedars-sinai, right here in new yo city. we are seeing institutions and facilities to that will not acpt this obamacare insurance. where are people going to go? people will have a hard time accessing physicians is what they do inside medicaid. health insurers, obamacare medicate
gerri: steve hopkins wanted to sign up for obamacare. she had a plan, wanted to see what she could get. sh ended up on medicaid. did not wann to be there. no desire to do that. now she is mad. what do youay? >> i wish i had a dime for every time someone told me that. they signed up for obamacare subsidies and have been essentially put into the medicaid system. a lot of americans are not familiar with how bad it is, but let me give you some examples. the mayo clinic, the best health care...
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Nov 23, 2013
11/13
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gerri: steve describ adverse selection. california, the enrollees. 56 percent of enrollees were within the ages of 45 and 64. the general population of california, 25 percent of the population. so you see, there is adverse selection is commanded israeli people who are older who are signing up. >> they are holding up california. the numbers actually look quite bad. only 16 percent of the people who enrolled. as an indication that people are paying a lot of money for plans because they know they will need the health care. they're getting a terrible adverse selection. the plans in that market, they will have a difficult time. gerri: the stick a look in some of these numbers. some of the highest premiums under obamacare for a family of four. north dakota, the numbers of. taxes of 30%. indiana up 25%. look at this numbers these are astonishing, the increasethat people will face. to your point. once people actually can't sign up and get through the process and figure what they will owe it will not be pretty. gerri: you think peop
gerri: steve describ adverse selection. california, the enrollees. 56 percent of enrollees were within the ages of 45 and 64. the general population of california, 25 percent of the population. so you see, there is adverse selection is commanded israeli people who are older who are signing up. >> they are holding up california. the numbers actually look quite bad. only 16 percent of the people who enrolled. as an indication that people are paying a lot of money for plans because they know...
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Nov 16, 2013
11/13
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what strikes me about it is something that says the president kept explaining to the steve jobs individuals. a great game. it's not whether you can win or lose. >> there is no way that we can be talked about by apple. [laughter] >> they are using a pop-culture reference. >> i will speak to the president. the current run is itunes. it is good. apple said it could push a button and buy the song. >> still says apple. >> is a good opportunity to say that this is very complicated. and buying insurance before there was a terrible time by the government have a website with complicated it was difficult to nobody in the world can do it as simply as you can buy a song on itunes and he's just trying to explain that to people and easy to relate terms. >> is impossible, this thing is not going to be ready by december 1. >> and 30 the applicants are doing it on paper. this idea is lame. macko had? this is where we can pile on the criticism. it should've been better it will be better. this includes a process that is not real all the time. >> so that will do it. in the meantime, tea partiers are fighting t
what strikes me about it is something that says the president kept explaining to the steve jobs individuals. a great game. it's not whether you can win or lose. >> there is no way that we can be talked about by apple. [laughter] >> they are using a pop-culture reference. >> i will speak to the president. the current run is itunes. it is good. apple said it could push a button and buy the song. >> still says apple. >> is a good opportunity to say that this is very...
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you know, i never carried a cell phone at chairman of joints steves of staff, i could -- joint chief of staff, i could never have confidence -- you no. neil: what do you think that response of europeans are proposing, stick it to all american business companies. boeing won't get the plane contract and on and on, too aggressive tit-for-tat? >> i think if you come up to strategstrategic level, europe s important to the u.s., and u.s. is purpose to europe. -- is important to europe, our economy relationship. this and i think cutting off noses on spite faces. if they precede down this line. europeans do care about data privacy, and their laws are structure, more strict than the u.s. and so, but i don't think that wholesale sort of cutting u.s. companies off from some of the opportunities they had and ways they operate there would be good for either side. neil: general -- >> after all, we -- i'm sorry, we respon spend a lot of our bld pressure keeping europe secure. this is important to both sides. neil: you know a very good point. we have done big, big good things here. let's not forget
you know, i never carried a cell phone at chairman of joints steves of staff, i could -- joint chief of staff, i could never have confidence -- you no. neil: what do you think that response of europeans are proposing, stick it to all american business companies. boeing won't get the plane contract and on and on, too aggressive tit-for-tat? >> i think if you come up to strategstrategic level, europe s important to the u.s., and u.s. is purpose to europe. -- is important to europe, our...
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Nov 10, 2013
11/13
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but as steve points out, you know, is stuffs abused all the time. >> but, steve, isn't the bottom line the fact that the money is goi --again, you have more money from the private productive sector to the wastefulovernment sector. >> yeah. if we had smaller government peopleouldn't mind to pay a fee to go to the airplane if that's where they thought the money was ing for. there is great support in the '50s for gasoline taxes to build the interstate highway syst because pple thought the money was going for a real purpose. >> morgan, again, it gets to the point -- milton freeman used to talk about this, the more money you take from the private sector the weaker the economy isecause you take it from the only sector creating something. >> not necessarily. let's go back to florida for a second. they raised user fees in the last couple of years. the economy was walloped in the downturn. they have come in with a budget surplus for the state part of the reason is the user fees, despite no income tax and no property taxes compared to other states like texas. >> florida has a ton of cities that
but as steve points out, you know, is stuffs abused all the time. >> but, steve, isn't the bottom line the fact that the money is goi --again, you have more money from the private productive sector to the wastefulovernment sector. >> yeah. if we had smaller government peopleouldn't mind to pay a fee to go to the airplane if that's where they thought the money was ing for. there is great support in the '50s for gasoline taxes to build the interstate highway syst because pple thought...
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steve, what do you tell your kleins to invest? >> key point is get the 3 to 5 year pervue, 20 to 30 years for most, it is important to look at three nobel prize winner phd's in economic save thees just 3 week ago they talked about personal investing, they said most people do not take that longer pervue, at least 3 to 5 years. gerri: question mutual funds or etms. >> i like etfs the best but don't count mutual funds out. gerri: scott? everyone loves the etf's no everyone is worried they are over trading them. >> i am sure they are over trading them, that is what we do as humans. but i love etfs, this is about time, looking at mutual funds what is happening. he is right, there are some low load versions that there is not a big barrier as far as cost to en true -- intry, but now the mutual fund companies have gotten creegotten creative, theu on the way out instead of the way in. >> jamie, do you agree? are the fees out of control? >> well first of all there is two major points could who that all etfs are not created equally, equity h
steve, what do you tell your kleins to invest? >> key point is get the 3 to 5 year pervue, 20 to 30 years for most, it is important to look at three nobel prize winner phd's in economic save thees just 3 week ago they talked about personal investing, they said most people do not take that longer pervue, at least 3 to 5 years. gerri: question mutual funds or etms. >> i like etfs the best but don't count mutual funds out. gerri: scott? everyone loves the etf's no everyone is worried...
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Nov 20, 2013
11/13
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to steve's point, i don't know what the entry is to get in the business. wouldn't it be easy for hewlett packard or ibm if they need the space to tuck these guys in? not saying that's going to happen. that's the fear right? if it does happen and you're short on stock, it's going to hurt. trade against the 65 level. >> it's a battle of home improvement retailers. we're talking home depot versus lowes and how you can cash in. >>> and we have one man's battle. stay tuned. o?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪ a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one
to steve's point, i don't know what the entry is to get in the business. wouldn't it be easy for hewlett packard or ibm if they need the space to tuck these guys in? not saying that's going to happen. that's the fear right? if it does happen and you're short on stock, it's going to hurt. trade against the 65 level. >> it's a battle of home improvement retailers. we're talking home depot versus lowes and how you can cash in. >>> and we have one man's battle. stay tuned. o?"...
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535
Nov 18, 2013
11/13
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steve liesman with the story. >> thanks. this poll conducted by public opinion strategists, which does the polling for cnbc the republican half of our polling team, did this poll on behalf of the international franchise association and the u.s. chamber of commerce. find a very negative impact right now on businesses and employment from the affordable care act. let's take a look at the graphics. 64% of franchise and 53% of nonfranchise are saying the aca is having an impact on their business. you might expect that but now let's take a look at what they're saying about specifically how. they say because of aca, 30% of franchise owners have replaced full with part time about 15% have seen reduced staff and more than 30% have reduced worker hours. this has potentially huge neck negative impact on employment. one other piece of data. asked if they would stay below 50 workers. 59 % of franchise owners and 52% of nonfranchise owners. there's a lot of debate about this. unclear whether or not it shows up in the official government d
steve liesman with the story. >> thanks. this poll conducted by public opinion strategists, which does the polling for cnbc the republican half of our polling team, did this poll on behalf of the international franchise association and the u.s. chamber of commerce. find a very negative impact right now on businesses and employment from the affordable care act. let's take a look at the graphics. 64% of franchise and 53% of nonfranchise are saying the aca is having an impact on their...
648
648
Nov 19, 2013
11/13
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big talk, who will replace outgoing ceo steve ballmer. josh lipton live in bellevue, washington. >> reporter: it was an historic day at microsoft shareholder meeting. the last meeting with steve ballmer as ceo. ballmer's record at microsoft is mixed. revenue jumped but critics say he mixed big tech trends like mobile and social. stock is up sharply this year but down 25% under his watch. bill gates at the shareholder meeting today gave no guidance for when a new yi would be picked. he did seem to get choked up when talking about his friend, steve ballmer. >> we've got a commitment to make sure the next ceo is the right person for the right time for the company we both love. and we share a commitment that microsoft will succeed as a company that makes the world a better place. >> top picks to replace ballmer mentioned, ford ceo allen mulally and former nokia ceo elop, as well as kevin turner, coo and nadella of cloud and shared enterprise. microsoft made a point of emphasizing their cloud products. whoever replace ballmer and strategis, th
big talk, who will replace outgoing ceo steve ballmer. josh lipton live in bellevue, washington. >> reporter: it was an historic day at microsoft shareholder meeting. the last meeting with steve ballmer as ceo. ballmer's record at microsoft is mixed. revenue jumped but critics say he mixed big tech trends like mobile and social. stock is up sharply this year but down 25% under his watch. bill gates at the shareholder meeting today gave no guidance for when a new yi would be picked. he did...
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155
Nov 4, 2013
11/13
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not necessarily founder steve cohen but as well as sentencing to follow several months later. it's after that s.a.c. needs to get serious about restructuring. they'll have to appoint an independent compliance monitor to oversee what they're calling the wind-down. what that means is they have to return third-party money to investors. a process that actually will be mostly completed at the end of the first quarter, from what i'm told, but could take ultimately one two two years, maria because they have liquid assets they need to sell. that process is currently being negotiate with the s.e.c. they have sfooif years to do it. probably won't take that long. >> so, nearly -- kate, thank you for the facts. we want to talk about this. nearly $2 billion to settle insider trading charges at s.a.c. we want to get the latest from sheila bair. u.s. attorney pete bharara said penalties are steep but fair. he made it clear this shut help serve as a deterrent. you agree? >> i absolutely agree. this is great. this isn't just the cost of doing business. a fine of this size hurts. it hurts where
not necessarily founder steve cohen but as well as sentencing to follow several months later. it's after that s.a.c. needs to get serious about restructuring. they'll have to appoint an independent compliance monitor to oversee what they're calling the wind-down. what that means is they have to return third-party money to investors. a process that actually will be mostly completed at the end of the first quarter, from what i'm told, but could take ultimately one two two years, maria because...
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Nov 11, 2013
11/13
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we have michael yoshikami at the new york stock exchange, also a cnbc contributor, steve saks, michael hennessey is out in the stratosphere somewhere. >> he's with me. >> i thought he was. good see you all. >> michael, here we go again. very strong jobs report on friday. the blue chips at least liked it but the secondary stocks, the small caps, have been suffering lately. what's going on in this market, do you think? >> i like the sendingary stocks. of the beta stocks have rallying. look at tesla, i realize there's fires going on there but secondary stocks have had huge rallies. i think what you're going to start to see as fundamentals, granted, on the slow basis, start to improve you'll see core stocks continue to pick up momentum. >> maria? >> neil hennessey, what about momentum? they have been driving the day all this year and then when they started to roll over the last couple of weeks. would you put new money in the market now and where are the groups that lead, if in fact we were to see the rally continue? >> if you're not in the market at all, you should be committing some money
we have michael yoshikami at the new york stock exchange, also a cnbc contributor, steve saks, michael hennessey is out in the stratosphere somewhere. >> he's with me. >> i thought he was. good see you all. >> michael, here we go again. very strong jobs report on friday. the blue chips at least liked it but the secondary stocks, the small caps, have been suffering lately. what's going on in this market, do you think? >> i like the sendingary stocks. of the beta stocks...
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Nov 20, 2013
11/13
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lou: congressman steve scalise. thank you. i regret you associated a terrific song, tom petty's freefalling with this train wreck. >> no disrespect to tom petty. lou: up next, approaching $5 trillion, we talk with wall wall street legend jim rodgers here the american dream is of a better future, a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped millions of others. by listening. planning. working one on one. that's what ameriprise financial does. that's what they can do with you. that's how ameriprise puts more within reach. ♪ lou: the justice department finalized a settlement with jpmorgan chase. johnson & johnson agreeing to pay $2 .5 billion to resolve thousands of lawsuits by patients who allege a received defective hip implants. federal government launched an investigation into tesla motors model s . 3 teslas have caught on fire but the ceo, is probably thinking that fires would have been worse had the cars been powered with gasoline. lou: wall street has been thr
lou: congressman steve scalise. thank you. i regret you associated a terrific song, tom petty's freefalling with this train wreck. >> no disrespect to tom petty. lou: up next, approaching $5 trillion, we talk with wall wall street legend jim rodgers here the american dream is of a better future, a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped millions of others. by listening. planning. working one on one. that's what ameriprise...
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Nov 15, 2013
11/13
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>> boo-yah, steve. >> caller: from st. louis, minnesota. >> a big sunny san diego boo-yah to ya. >> yeah, charger boo-yah? >> caller: hey, jim, it's nathaniel in the great city of virginia beach, a great big boo-yah. how you doing today? >> i'm going to give you an alan iverson boo-yah. >> okay. >> what are we talking about? practice? practice? >> and as of today, go-go is now giving you a remarkable 56% gain in the aftermarket. and that's from when it became public. and that's over the course of less than five months -- i'm trying to fight a sneeze. [ sneezes ] it's better to fight it than sneeze. [ sneezes ] . take a look at this. take a look at nov's daily chart. the fabulous cup and handle formation. the one that looks like a little tea coming up with the handle on the right side. the cup and handle! oh, boy. holy cow. an inverse head and shoulders pattern. see? well, i was trying to make a smiley face. yeah, see, filled in, boom. that's a bullish crossover, where the black line goes above the red line, just a second.
>> boo-yah, steve. >> caller: from st. louis, minnesota. >> a big sunny san diego boo-yah to ya. >> yeah, charger boo-yah? >> caller: hey, jim, it's nathaniel in the great city of virginia beach, a great big boo-yah. how you doing today? >> i'm going to give you an alan iverson boo-yah. >> okay. >> what are we talking about? practice? practice? >> and as of today, go-go is now giving you a remarkable 56% gain in the aftermarket. and that's...
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Nov 6, 2013
11/13
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a new kind of republican, steve. that's the basic deal. he knows how to make deals and cross the aisle without giving up his principals. so do you feel chris christie is your toughest opponent? >> he would be a very good general election opponent. the question is is it possible for chris christie to get through the republican primary? what happens is it's dominated by rand paul. they make it difficult for chris christie to get back to the middle once he gets through a republican primary. you saw it with mitt romney. it was a tough deal. tough general election candidate. >> bob cost at that, up or down? >> chris christie is the lone success story. >> thank you, steve mcmahon. thank you robert cost at that. you guys are great. that's it for this evening's show. more of the election results tomorrow night. thanks for watching. i'm larry kudlow. ♪ ♪ stacy's mom has got it goin' on ♪ ♪ stacy's mom has got it goin' on ♪ ♪ stacy's mom has got it goin' on ♪ [ male announcer ] the beautifully practical and practically beautiful cadill
a new kind of republican, steve. that's the basic deal. he knows how to make deals and cross the aisle without giving up his principals. so do you feel chris christie is your toughest opponent? >> he would be a very good general election opponent. the question is is it possible for chris christie to get through the republican primary? what happens is it's dominated by rand paul. they make it difficult for chris christie to get back to the middle once he gets through a republican primary....
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Nov 1, 2013
11/13
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steve weiss, are we in a bubble or not, because that's been the talk of the week. >> no, we're not. does anything go up in a straight line? absolutely not. but the market still has plenty of juice that's going to drive it higher well into next year. the reason being, we're still below an average market multiples, looking to 2014. 23 times since 1950 -- so a third of the time -- the market's gone up more than 20%, and about 13 times it's gone up more than 30%. and we've had multiple years back-to-back of better than 20%. so i'm still very positive on the market. if you're negative on bonds at all, the market has only gone down one year, where bonds have gone down one year. that's 1969, very explainable. so if you have a negative bond bet, and i do, because 10 years at historically low rate, you have to be bullish on equities. >> nathan? >> there's pockets in the equity markets, there's clearly pockets. look at what's going on in solar. look what's going on in the web 2.0, the names. >> the market in general. we'll get to the subsectors -- >> i tend to be more skeptical than a lot of
steve weiss, are we in a bubble or not, because that's been the talk of the week. >> no, we're not. does anything go up in a straight line? absolutely not. but the market still has plenty of juice that's going to drive it higher well into next year. the reason being, we're still below an average market multiples, looking to 2014. 23 times since 1950 -- so a third of the time -- the market's gone up more than 20%, and about 13 times it's gone up more than 30%. and we've had multiple years...
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Nov 4, 2013
11/13
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not steve cohen or anybody else. there should be minimal impact, important for our viewers to the markets and to other parties who do business with sac. still, the questions from the audience were skeptical. a lot of questions about why steve cohen was ultimately not a part of this, what happens next. there's a sense that sac wants to reopen after just a short period of time. bharara was having to say no, that's not going to happen. they have about five years to unwind and we think it will take less than that. what they do after that whether they open up a new fund or turn night a family office is up to other parties. here's what he had to say about the significance overall. >> greed sometimes is not good. and there are at least 75 convicted insider trading defendants who today would likely agree. but individual guilt is not the whole of our mission. sometimes blame worthy institutions need to be held accountable too. no institution should rest easy in the belief that it is too big to jail. >> reporter: so obviously
not steve cohen or anybody else. there should be minimal impact, important for our viewers to the markets and to other parties who do business with sac. still, the questions from the audience were skeptical. a lot of questions about why steve cohen was ultimately not a part of this, what happens next. there's a sense that sac wants to reopen after just a short period of time. bharara was having to say no, that's not going to happen. they have about five years to unwind and we think it will take...
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Nov 18, 2013
11/13
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steve liesman is very grateful. microsoft france is transforming the hotel o in paris into xbox 1 hotel. rooms are being decorated to look like scenes from the new xbox games and the who he tell bar offering xbox inspired cocktails. the hotel will stay game themed until the new year and opens to the public on friday. it's really, really hard core gamers. speaking of hotels, we'll take you inside one hotel that's going the way of the godfather and letting guests sleep with the fish. >> but first, starbucks versus charbucks. this was a real fight, by the way. a 12-year court battle just ended. why the court says the coffee giant did not have the grounds to stand on. the xbox 1. yeah. we're back after this. the american dream is of a better future, a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped millions of others. by listening. planning. working one on one. that's what ameriprise financial does. that's what they can do with you. that's how ameriprise puts mor
steve liesman is very grateful. microsoft france is transforming the hotel o in paris into xbox 1 hotel. rooms are being decorated to look like scenes from the new xbox games and the who he tell bar offering xbox inspired cocktails. the hotel will stay game themed until the new year and opens to the public on friday. it's really, really hard core gamers. speaking of hotels, we'll take you inside one hotel that's going the way of the godfather and letting guests sleep with the fish. >> but...
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Nov 20, 2013
11/13
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steve liesman, i'll finish with you. in your view, does the fed have a credibility problem right now? >> perhaps, but it certainly has a communications problem right now. it seems incapable of telling the market that if it reduces the amount of qe that's out there, that it doesn't mean they're going to be raising rates any time sooner. i'm not sure, though, that all the investors on the panel, bill, are listening to what the fed is saying. because you made the point, bill, that if the fed does, indeed taper because its economic forecast for improving or accelerated growth comes to pass -- >> or so they tell us. >> again, if i could trade ten bucks of qe for $1 of groeshgts i would take that bet any time. i would probably take it in the stock market but i'm not sure the average investor is there yet. >> that's without knowing how you're going to exit those extra nine bucks. that's the problem right there. >> all right, guys. thank you. >> thanks, everybody. >> another fun taper talk today on "closing bell." heading toward
steve liesman, i'll finish with you. in your view, does the fed have a credibility problem right now? >> perhaps, but it certainly has a communications problem right now. it seems incapable of telling the market that if it reduces the amount of qe that's out there, that it doesn't mean they're going to be raising rates any time sooner. i'm not sure, though, that all the investors on the panel, bill, are listening to what the fed is saying. because you made the point, bill, that if the fed...
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Nov 20, 2013
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steve rightly said, the minutes were rather confusing. my quick initial read on it is that we're at session lows for the stock market, it's losing steam. the dollar has ticked up and the ten-year has ticked up. what's the feel on the floor? >> modestly to the downside but that's a narrow range, only down about 20 points from the initial announcement. there's a full-court press on by the federal reserve to convince the world that tapering is not tightening. the guests and steve have it right. look at the conversation from the minutes. fomc, discusses lowering 6.5% unemployment threshold. yellen talking about that yesterday in her letter. fomc debates providing additional assurances on low funds rate. fed funds rate. the point is they're really trying to convince the world there is a difference and judging by the reaction of the market fairly modest moves at least in the stock market they're winning. yellen will make this the centerpiece of what she'll be talking about the next several months. >> thank you so much, bob pisani. >> all right.
steve rightly said, the minutes were rather confusing. my quick initial read on it is that we're at session lows for the stock market, it's losing steam. the dollar has ticked up and the ten-year has ticked up. what's the feel on the floor? >> modestly to the downside but that's a narrow range, only down about 20 points from the initial announcement. there's a full-court press on by the federal reserve to convince the world that tapering is not tightening. the guests and steve have it...
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Nov 4, 2013
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>> i mean i think we learned from steve jobs you know you can't make products that are just good enough. that's not going to sell to the consumer. and blackberry has made products that are just good enough. they don't delight consumers. >> she's basically saying, the company doesn't work for you what you want it to work for for consumers. >> i actually 100% agree with her in the sense i don't think it's meant for the everyday consumer. they tried competing head to head with the iphone saying we can match the iphone feature by feature. the people who have their blackberries and still have them -- the five sitting out here are not choosing it for the same reason people choose it for android or iphone. they choose it for productivity. >> for me and for a lot of us out here we choose the blackberry because it's good a real keyboard. this is the new q10 that i have. but you have the new -- what is it the z30. >> z30. >> there is no ski board. >> absolutely no keyboard. this is clearly a consumer play. >> the company's confused. >> you think this is symptomatic of that? >> yes. they don't kno
>> i mean i think we learned from steve jobs you know you can't make products that are just good enough. that's not going to sell to the consumer. and blackberry has made products that are just good enough. they don't delight consumers. >> she's basically saying, the company doesn't work for you what you want it to work for for consumers. >> i actually 100% agree with her in the sense i don't think it's meant for the everyday consumer. they tried competing head to head with...
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Nov 6, 2013
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let us bring in steve and robert. steve, first to you, any names that you just love out of that group? >> well, none that i just love that trade in any kind of elevated market cap. but there are a few that i think are decent and most of them are actually in the equity income space. i think you're really -- as the average investor stay away from the stuff trading at 20 and 30 times revenues. $1,000 that was invested in amazon could have been invested in pets.com or web van or cosmos or health central.net or all these high flyers from '99 that went to zero. it's difficult to identify with any kind of certainty what the high flyers will be. there are names that tend to have decent income. there's some real estate investment trusts that came, few mlps that came, those look kind of interesting although i think the cheapest ones aren't the ones that ipoed this year. >> bob pisani were telling us there a couple sectors hot at the moment, lot of ipos from those like internet security and cloud and it could be overdone. do any
let us bring in steve and robert. steve, first to you, any names that you just love out of that group? >> well, none that i just love that trade in any kind of elevated market cap. but there are a few that i think are decent and most of them are actually in the equity income space. i think you're really -- as the average investor stay away from the stuff trading at 20 and 30 times revenues. $1,000 that was invested in amazon could have been invested in pets.com or web van or cosmos or...
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Nov 6, 2013
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todd buchholz former white house economic adviser to the first president bush also with us our own steve liesman. gentlemen, good to see you. >> good to be here, maria. >> explain the theory. >> well, look, if obama care fails because of the website, well, then that's terrible for the president. let's say it succeeds and give it the benefit of the doubt and say the president is right and 30 million people sign up, and they start getting insurance, but they start paying premiums. those premiums maybe they'll be a bargain, $100, $200 a month. >> they haven't been a bargain. i see your point. >> let's give the president all the credit and say it's going to work. that's by my calculations about $77 billion of spending by consumers that they won't have to spend at mcdonald's and target and ford motor -- that's a lot of money. more than the president's stimulus plan spent on infrastructure or for tax cuts. it could be in an economy right now where consumers look a little bit shaky, it could be just enough to dislodge us from this tentative recovery. >> steve, you on board? >> not exactly. and
todd buchholz former white house economic adviser to the first president bush also with us our own steve liesman. gentlemen, good to see you. >> good to be here, maria. >> explain the theory. >> well, look, if obama care fails because of the website, well, then that's terrible for the president. let's say it succeeds and give it the benefit of the doubt and say the president is right and 30 million people sign up, and they start getting insurance, but they start paying...
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Nov 19, 2013
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steve liesman's been digging into that all day. he brings us his latest findings still to come on the "closing bell." i'm beth... and i'm michelle. and we own the paper cottage. it's a stationery and gifts store. anything we purchase for the paper cottage goes on our ink card. so you can manage your business expenses and access them online instantly with the game changing app from ink. we didn't get into business to spend time managing receipts, that's why we have ink. we like being in business because we like being creative, we like interacting with people. so you have time to focus on the things you love. ink from chase. so you can. ♪ [ male announcer ] laura's heart attack didn't come with a warning. today her doctor has her on a bayer aspirin regimen to help reduce the risk of another one. if you've had a heart attack, be sure to talk to your doctor before you begin an aspirin regimen. >>> welcome back. well, there has been a lot of talk surrounding the bitcoin mania. what exactly is a bitcoin? >> i'm glad you asked. we put t
steve liesman's been digging into that all day. he brings us his latest findings still to come on the "closing bell." i'm beth... and i'm michelle. and we own the paper cottage. it's a stationery and gifts store. anything we purchase for the paper cottage goes on our ink card. so you can manage your business expenses and access them online instantly with the game changing app from ink. we didn't get into business to spend time managing receipts, that's why we have ink. we like being...
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Nov 4, 2013
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sacked, steve cohen's s.a.c. capital in a record settlement with the feds, now kate kelly has the latest on what happens to the firm. and of course its founder. tweet this, twitter ups its ipo range. traders weigh in on whether they'd buy the stock when it opens for business. >>> the markets heading into the final stretch of the year looking for more gains. surprisingly, still looking for love. so, why is one of the strongest rallies in recent memory still searching for respect? and what does all it mean to where we go from here? "halftime". pete, where's the love in the rally? >> i think it doesn't really take a lot to find some of the love. i think part of the problem is the fact that the financials really have not participated this in quarter. look over at some of the industrial names, i pick out ge, one of the names that i like. we've seen a lot of option paper in there look at energy names, i'm not talking about the big cap energy that everybody always likes to focus on. i'm looking at some of the mid tier n
sacked, steve cohen's s.a.c. capital in a record settlement with the feds, now kate kelly has the latest on what happens to the firm. and of course its founder. tweet this, twitter ups its ipo range. traders weigh in on whether they'd buy the stock when it opens for business. >>> the markets heading into the final stretch of the year looking for more gains. surprisingly, still looking for love. so, why is one of the strongest rallies in recent memory still searching for respect? and...
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Nov 7, 2013
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our own steve weiss said he had cover eed most of his. >> he did. for steve, a great trade, because he was short initially up in the mid-teens. this is a situation, i think a lot of people are going to start talking about it. after seeing the number today, scott. going to start talking about best buy and how they were going out of business until they finally turned around and tripled, went up 300%. i'm not saying jcpenney is about to go into the mid-20s. but in that line in the sand is drawn, where they've stopped going lower, the bounce-back into mid-teens will happen quicker than people are expecting. >> yeah, josh brown -- >> yeah, go ahead, steph. >> i don't know if i would get that excited for .9%. i know expectations are low. when you have costco with 6%, or t.j. that raised guidance, you want to -- >> and discounted the hell out of that, to get the .9%. >> right, right. so the margins, so you don't know the profitability -- >> that's not a healthy point 9%. >> josh, talk to me about tesla while you're at it. >> i would just tell you that i th
our own steve weiss said he had cover eed most of his. >> he did. for steve, a great trade, because he was short initially up in the mid-teens. this is a situation, i think a lot of people are going to start talking about it. after seeing the number today, scott. going to start talking about best buy and how they were going out of business until they finally turned around and tripled, went up 300%. i'm not saying jcpenney is about to go into the mid-20s. but in that line in the sand is...
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Nov 21, 2013
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steve ballmer is more revered. one that with $300 billion in market capitalization has to be considered a success. and this is not just within the industry. this has become a pop culture thing now. on last night's episode of "south park," ballmer's assassination by an angry and disappointed bill gates was a major subplot. not only viewed as a failure at his time at microsoft, he's sealed his deal where he says he recognizes that he's the person standing in the way of microsoft's progress. quote, maybe i'm an emblem of an old era and i have to move on. what was keeping microsoft from succeeding? quote, at the end of the day, we need to break a pattern. face it, i am a pattern. and so even he admitted it was time to go. was ballmer too hard on himself? to them he is a befuddled fool who didn't see cloud, didn't see social, didn't see mobile coming. and he thought he could ignore it or build it all into xbox one. what i would ask these executives offline what is the biggest nightmare? they almost all said the same thi
steve ballmer is more revered. one that with $300 billion in market capitalization has to be considered a success. and this is not just within the industry. this has become a pop culture thing now. on last night's episode of "south park," ballmer's assassination by an angry and disappointed bill gates was a major subplot. not only viewed as a failure at his time at microsoft, he's sealed his deal where he says he recognizes that he's the person standing in the way of microsoft's...
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Nov 12, 2013
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but first, steve kroft's story on the enormous amount of money being spent to treat people as they approach the end of their lives. how much money? well, in 2009, medicare paid $55 billion for doctor and hospital bills for patients as they approached the last two months of life. to give you some perspective, that's more than the budget for the department of homeland security or the department of education. and as we reported in 2009, most of those bills were paid for by the government with few or no questions asked and with an estimated 30% of the treatments having no meaningful impact. >> ms. klish, it's dr. byock. >> marcia klish is either being saved by medical technology or being prevented from dying a natural death. >> we're just here checking on you. >> she's been unconscious in the intensive care unit at dartmouth hitchcock medical center in lebanon, new hampshire, for the better part of a week. one of her doctors, ira byock, told us it costs up to $10,000 a day to maintain someone in the icu. >> this is the way so many americans die. something like 18% to 20% of americans spend thei
but first, steve kroft's story on the enormous amount of money being spent to treat people as they approach the end of their lives. how much money? well, in 2009, medicare paid $55 billion for doctor and hospital bills for patients as they approached the last two months of life. to give you some perspective, that's more than the budget for the department of homeland security or the department of education. and as we reported in 2009, most of those bills were paid for by the government with few...
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Nov 19, 2013
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we start with steve in missouri. steve! >> caller: hey, jim, a minute ago tiger's boo-yah to you. >> we love the mazoo. what's up? >> caller: i am talking about a stock you mentioned in the past. they had weaker than expected earningings and guided lower, but revenue is still growing for chart industries. >>ing o. i said after that quarter when they were in the 100s, i could not get behind the company, until i need the ceo. why? because i frankly did not understand the shortfall and until i do, i can't get behind it. ied into to go to willie if florida. willie. >> caller: jim, how are you doing? a gobble, gobble, boo you to you. >> sweet kind of boo you to you. kwhats up? caller all back in may, i came out with ingus tickered at bya or boya. i understand it has something to do with the buyout. i have been doing fairly well. but i never see it reported on cnbc or see it on the sticker. >> well, so you know, a lot of peel didn't like this company when it became public. i myself was skeptical. you got a very good run in it. >>
we start with steve in missouri. steve! >> caller: hey, jim, a minute ago tiger's boo-yah to you. >> we love the mazoo. what's up? >> caller: i am talking about a stock you mentioned in the past. they had weaker than expected earningings and guided lower, but revenue is still growing for chart industries. >>ing o. i said after that quarter when they were in the 100s, i could not get behind the company, until i need the ceo. why? because i frankly did not understand the...
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Nov 18, 2013
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those ceos we see, steve balmer exiting microsoft. why? he didn't go social, or mobile, or cloud. he told us he was going to, but he didn't. the reason why you read "the wall street journal" this weekend, what did he say? >> standing amid progress. >> he says he's a representative of the past. >> right. >> dreamforce is a representative of the future. >> okay. let's go big. why was the president not social, mobile cloud for health care? and why didn't he just turn to you or why didn't you tell him how to do it? >> he was for his campaign. and then he didn't do it in this agency. i don't know why. >> why don't you just take it over? >> we're busy here, jim. >> you didn't even offer? >> we did. we offered to do it for free. we offered to run it for free for the next five years, rebuild it for free. but, you know -- >> is that too expensive for the president? >> well, i think it's hard for them to process what does that mean. >> they have a customers relation problem. >> it is. >> the customer was forgotten. >> it's our sweet spot. but you know what, san francisco's a long way from w
those ceos we see, steve balmer exiting microsoft. why? he didn't go social, or mobile, or cloud. he told us he was going to, but he didn't. the reason why you read "the wall street journal" this weekend, what did he say? >> standing amid progress. >> he says he's a representative of the past. >> right. >> dreamforce is a representative of the future. >> okay. let's go big. why was the president not social, mobile cloud for health care? and why didn't he...
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Nov 20, 2013
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steve says there is no inflation. that was your comment. >> i didn't understand if it was sarcastic or realistic or what? >> is whirly bird janet used yet? >> in december, we could taper 85 billion. >> blow it out. all at once. >> what do you think? >> i have no idea. i think our taper and fed programs are a lot like fax policy in france right now. >> lovely. steve, you want to take that on? >> i want to talk about the retail sales numbers. we spent less at the gas pump. i don't want to do it. >> i know. >> i heard you say serenity now. i'm focused on the data. happy. here we go. we spent less money at gasoline station because we had a decline on prices. we spent it on sweaters. 1.4% increase on clothing. we had a decline in vehicles related to the labor day calendar et cetera. food and beverage up 1.3%. consumer may be healthier than we thought. part that feeds in, i'm wondering perhaps we get a revision higher in the gdp estimates for fourth quarter. there does not appear to be inflation in measured numbers we follo
steve says there is no inflation. that was your comment. >> i didn't understand if it was sarcastic or realistic or what? >> is whirly bird janet used yet? >> in december, we could taper 85 billion. >> blow it out. all at once. >> what do you think? >> i have no idea. i think our taper and fed programs are a lot like fax policy in france right now. >> lovely. steve, you want to take that on? >> i want to talk about the retail sales numbers. we...
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Nov 20, 2013
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lou: congressman steve scalise. thank you. i regret you associated a terrific song, tom petty's freefalling with this train wreck. >> no disrespect to tom petty. lou: up next, approaching $5 trillion, we talk with wall street legend jim rodgers here next. my mantra? family first. but with less energy, moodiness, and a low sex drive, i saw my doctor. a blood test showed it was low testosterone, not age. we talked about axiron. the only underarm low t treatment that can restore t levels to rmal in about 2 weeks in most men. axiron is not for use in women or anyone younger than8 or men with prostate or breast caer. and children should avoido are contact where axiron is applied as unexpected signs of puber in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medication serious side effects could include increased risk decreased sperm count; ankle, feet or body swelling; enlarged or painful breasts; problems breathing while
lou: congressman steve scalise. thank you. i regret you associated a terrific song, tom petty's freefalling with this train wreck. >> no disrespect to tom petty. lou: up next, approaching $5 trillion, we talk with wall street legend jim rodgers here next. my mantra? family first. but with less energy, moodiness, and a low sex drive, i saw my doctor. a blood test showed it was low testosterone, not age. we talked about axiron. the only underarm low t treatment that can restore t levels to...
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Nov 18, 2013
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steve liesman reporting on timothy geithner. >> we wish him well. thanks, guys, still ahead, hard assets have been hot lately. how about this one. a $15 million ferrari. we'll show you some of the most expensive cars ever, and also let you know who might be buying them. and did you know about detroit's financial problems? of course you did. the list of cities in trouble doesn't stop there. scott kohn is going across america to save our cities. stop number one, oakland, california. scott? >> yeah. sue, you know, this is a real main street versus wall street story. the issue here, did wall street take hundreds of american cities for a ride or were these cities simply playing the market with their taxpayers' money. it's the first stop on our critical conditions tour, looking at america's cities and what can be done to save them. we're in oakland, california, and we'll have the story coming up on "power lunch." mine was earned orbiting the moon in 1971. afghanistan in 2009. on the u.s.s. saratoga in 1982. [ male announcer ] once it's earned, usaa auto i
steve liesman reporting on timothy geithner. >> we wish him well. thanks, guys, still ahead, hard assets have been hot lately. how about this one. a $15 million ferrari. we'll show you some of the most expensive cars ever, and also let you know who might be buying them. and did you know about detroit's financial problems? of course you did. the list of cities in trouble doesn't stop there. scott kohn is going across america to save our cities. stop number one, oakland, california. scott?...
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Nov 8, 2013
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december report, we have to report what happens in december to this number. >> thank you very much, steve liesman. >> sector s.o.s., which stocks are flashing a warning signal and if the momentum run is done. >> the most powerful storm recorded slamming into the philippines, heartbreaking images from that part of the world after a terrifying night for them. we're going to bring you the latest when "street signs" returns. you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪ the holidays can belves an especially difficult time. everything's different now. sometimes i feel all alone. christmas used to be my favorite. i just don't expect anything. what if santa can't find me? to help, sleep train is holding a secret santa toy drive. bring your gift to any sleep train, and help keep t
december report, we have to report what happens in december to this number. >> thank you very much, steve liesman. >> sector s.o.s., which stocks are flashing a warning signal and if the momentum run is done. >> the most powerful storm recorded slamming into the philippines, heartbreaking images from that part of the world after a terrifying night for them. we're going to bring you the latest when "street signs" returns. you really love, what would you do?" ♪...
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now that a deal's been reached in the landmark insider trading case where does steve cohen and his top players go from here? it is all the word on wall street, let me tell you. with all the gritty
now that a deal's been reached in the landmark insider trading case where does steve cohen and his top players go from here? it is all the word on wall street, let me tell you. with all the gritty
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Nov 7, 2013
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if microsoft had done so, steve bamer could still have a job and there might be more to twitter than you otherwise expect. let's not forget perhaps this is another amazon. or a tesla, circa, like, last week. a cold stock where we don't even care about profitability but care the market is so huge that they get on the market. here's the bottom line. twitter is outrageously expensive. i understand the love. in my heart of hearts, i look at twitter's stock as i look at the stock you can buy in the green bay packers. not meant to trade. it's meant to let you be part of the twitter verse. feel free to overpay. feel free to love twitter. the stock. let's just hope it's not unrequaint. josh in kansas. josh in. >> caller: hey, boo-yah from kansas, jim. >> boo-yah. i love kansas. i think university of kansas could go all the way. go ahead. >> caller: i will see. looking at pwld. buffalo wildwings. >> well, you know, there's a lot of stuff going on today by people who seem to have buyers remorse. they say, wait a second, maybe we paid too much and buffalo wild wings was part of that. it's calle
if microsoft had done so, steve bamer could still have a job and there might be more to twitter than you otherwise expect. let's not forget perhaps this is another amazon. or a tesla, circa, like, last week. a cold stock where we don't even care about profitability but care the market is so huge that they get on the market. here's the bottom line. twitter is outrageously expensive. i understand the love. in my heart of hearts, i look at twitter's stock as i look at the stock you can buy in the...
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Nov 19, 2013
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steve weiss long. >> pete? >> buy citi and bank of america. >> i would take a shot of cpb. >> i like franks international oil service. "power" starts now. >> "halftime" is over. "power lunch" and the second half of the trading day starts right now. >> all right. scott, thank you very much. jpmorgan expected to settle any minute now really with the government to the tune of some $13 billion. has it put the worst behind it or not? is it time to buy jpmorgan stock or look to other financials? we're going to take a look at that whole sector and see where you might best make some money now. tesla is under fire, yes fire, as the government begins an investigation surprisingly, the stock is up today. selling off rather sharply in the last three or four weeks. we will tell you if the inquiry will put a dent into tesla's sales. you may be surprised on that one. strong quarter for home depot, boosted by a resurgent home remolding sector. is the stock, a buy, sell or a hold. old-school debate coming up. first let's check
steve weiss long. >> pete? >> buy citi and bank of america. >> i would take a shot of cpb. >> i like franks international oil service. "power" starts now. >> "halftime" is over. "power lunch" and the second half of the trading day starts right now. >> all right. scott, thank you very much. jpmorgan expected to settle any minute now really with the government to the tune of some $13 billion. has it put the worst behind it or not?...
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you guys are pretty good, we're good when you ran the shop, and steve jobs ran the shop,al ut pal all the way through -- all the way through present leadership to make sure you debacles were a minimum. >> when i called it a belly flop, the metaphor was wrong, i would call it more of a risking stone. if this thing fails it looks like it is failing in different ways. what do we do? just as came in to personal computer industry in early days, when consumerrization was a big thyme, steve jobs cams came up h it, a chance to bring consumerring a of healthcare to the forefront,. neil: you would junk this? mr. president, cut your losses, quit massaging it, and recognize the obvious this is a disaster. >> i would do is really, turn to the private sector. a few of us, picked out a few talented entrepreneurs, we're financiallfinancial backing thed building role models with a solution. to get people involved in their own behavior change. neil: are you surprised now that there was -- very little expert i-t input into launching this? >> well, it is absurd. i can tell you when you build software it
you guys are pretty good, we're good when you ran the shop, and steve jobs ran the shop,al ut pal all the way through -- all the way through present leadership to make sure you debacles were a minimum. >> when i called it a belly flop, the metaphor was wrong, i would call it more of a risking stone. if this thing fails it looks like it is failing in different ways. what do we do? just as came in to personal computer industry in early days, when consumerrization was a big thyme, steve jobs...
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Nov 11, 2013
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joining us from wells capital management jim paulson steve from fed deteriorated investorsp when you go through names like that low quality rally if that's the last gaps before a downturn, what do you think? >> well, i certainly see, you know, there's some warning indications even as bob pointed out. people are not exactly giddy with optimism but they're no longer as pessimistic as they were, complain sensy, values are way up that where the interest rates are also rising. i guess i kind of think that the thing driving this market a lot higher, i believe money velocity for the first time in this recovery, brian, is starting to turn up and the initial signs of that is the economy starts feeling better and i think that's what the stock market's picking up. i'm not so sure that's done. we may go higher into 2014 and maybe when we find out velocity has turned up and that creates a lot of fear around the fed and their exit strategy, a tougher half of 2014 but might be from higher levels. >> good point. may be higher. the point about the complacency here, steve, even though complacency migh
joining us from wells capital management jim paulson steve from fed deteriorated investorsp when you go through names like that low quality rally if that's the last gaps before a downturn, what do you think? >> well, i certainly see, you know, there's some warning indications even as bob pointed out. people are not exactly giddy with optimism but they're no longer as pessimistic as they were, complain sensy, values are way up that where the interest rates are also rising. i guess i kind...
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Nov 20, 2013
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steve liesman was there and, yes, this is confusing. i don't know what some of your guests think about this but it makes it hard to read exactly what a marketplace should do. >> nathan how do you allocate capital post the minutes here knowing they're looking at the next couple of months? >> well if it happened in the next cowluple of months and i'll give my original front two teeth back as well if they did that in the next couple of months we'll have a taper tantrum like we saw about five months ago. rates are going to spike. the fed's going to have to figure out how to have a new -- two new mandates, in my opinion. number one how to stop the tapering while still having an easy money policy. also convincing investors that interest rates aren't going to spike when they start the tapering. that's the challenge. when that happens, i think you'll lighten up in the united states and you start looking at the movie called europe which is a mini version of what we've been living for the last five years. i also think you have to continue to shor
steve liesman was there and, yes, this is confusing. i don't know what some of your guests think about this but it makes it hard to read exactly what a marketplace should do. >> nathan how do you allocate capital post the minutes here knowing they're looking at the next couple of months? >> well if it happened in the next cowluple of months and i'll give my original front two teeth back as well if they did that in the next couple of months we'll have a taper tantrum like we saw...
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Nov 14, 2013
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simon baker is here along with steve weiss, joe terranova, and stephanie link. stephanie, on a year when the health stocks have done well, health care is the second best performing sector out of the s&p 500 this year. i'm wondering what your thoughts are, and what happens with the stocks? >> i don't think anything he said is a surprise. you have to expect the blame game comes out of washington on both sides. this is a mitigated disaster. the insurance companies budget at least a year in advance. so they're a little offsides in the budgets. at the end of the day, i don't think it matters. maybe you see them reset expectations next quarter or pre-announce, in terms of reduced expectations, but you still need to be in a group that continues to grow, whether the economy is growing or not growing, so i like it. more importantly, what this did was, it sort of casted yellen in a shadow, and that was by far, to me, the more important conversation today, what she was saying. >> well, yellen certainly has had somewhat of an impact on the overall market today by virtue of
simon baker is here along with steve weiss, joe terranova, and stephanie link. stephanie, on a year when the health stocks have done well, health care is the second best performing sector out of the s&p 500 this year. i'm wondering what your thoughts are, and what happens with the stocks? >> i don't think anything he said is a surprise. you have to expect the blame game comes out of washington on both sides. this is a mitigated disaster. the insurance companies budget at least a year...
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Nov 12, 2013
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. >> is that the right play, steve? >> there's so many stocks to choose from where you can justify valuation, life's just too short and the game's too hard to mess around with twitter. there's no fundamental basis, as barry diller says, for this valuation. i'm not saying it's a faddish company. no, it's a real company with reed prospects, but the valuation, the embracing here, is a big fad. i wouldn't own it -- >> steve, i would agree you're right about that, but also counter with none of the great growth stocks throughout history were ever cheap, and by the time they were and valuations were reasonable, that's exactly the time when you -- >> okay, so instead of giving me a history lesson, go out and buy it. >> i own it. >> you own twitter? >> correct. >> but i thought you lightened up -- >> it's not a history lesson. netflix was never justifiable at any valuation. >> difference. >> everything's different! >> exactly. exactly. here's the deal. [ overlapping speakers ] >> -- netflix has a sure operating history. netflix
. >> is that the right play, steve? >> there's so many stocks to choose from where you can justify valuation, life's just too short and the game's too hard to mess around with twitter. there's no fundamental basis, as barry diller says, for this valuation. i'm not saying it's a faddish company. no, it's a real company with reed prospects, but the valuation, the embracing here, is a big fad. i wouldn't own it -- >> steve, i would agree you're right about that, but also counter...
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Nov 12, 2013
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how about steve in california. >> boo-yah, jim from sunny sacramento, california. >> what's up? >> bank of m, my son told me to buy it two and a half years ago at 14 and i watched it go all of the way down to $3. what should i do with it now? >> bank of america's fine, you know? it's neither here or there. it's not like a 3d printer and not like a biotech. it's just a bank and the bank's with the yield curve. if interest rates go up a little bit it will make more money. frankly, it's an okay stock. i can't pound the table on it either way. i'm not going to tell you to sell it. i'm not going tell you to buy it. i know. that's the equivalent of neutral, but i'm neutral and the big guy's got to catch up where they've got to be. it's the end of the story. "mad money" will be right back. >>> coming up, conundrum. black gold's been on the slide, but tonight cramer's drilling down on a few oil names to extract a clear view of where they could be headed next when he heads "off the charts." and later, up, up and away? in-flight internet provider gogo took off in trading yesterday soaring
how about steve in california. >> boo-yah, jim from sunny sacramento, california. >> what's up? >> bank of m, my son told me to buy it two and a half years ago at 14 and i watched it go all of the way down to $3. what should i do with it now? >> bank of america's fine, you know? it's neither here or there. it's not like a 3d printer and not like a biotech. it's just a bank and the bank's with the yield curve. if interest rates go up a little bit it will make more money....
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Nov 8, 2013
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flows this year, right now, year-to-date, steve, are about 114 billion positive in equities. there was 600 billion negative over the last five years. again, that feels like the beginning, not the end, of a movement. >> keith, when do you sound the fire alarm? i'm in agreement with you about the lack of exuberance, but when do you sound the fire alarm? what would you have to see diagnostically on the market dashboard, if you will, that would cause you to get cautious? >> anthony, we're asset-class agnostic. we have to be as fiduciaries. we don't have to be bullish in equities. we are, because we see the fundamental underpinning. we see an acceleration in economic growth next year in the u.s. and globally. we think that'll sustain. that drives earnings, as i said earlier, to 1.14 next year, 1.20 the year after. >> anything you're worried about? >> the geopolitical side. you have to worry about when tapering does begin, and it will, how the market will react. we think they'll ultimately be able to absorb it. you'll get bumps along the road. it won't be a straight shot upwards. a
flows this year, right now, year-to-date, steve, are about 114 billion positive in equities. there was 600 billion negative over the last five years. again, that feels like the beginning, not the end, of a movement. >> keith, when do you sound the fire alarm? i'm in agreement with you about the lack of exuberance, but when do you sound the fire alarm? what would you have to see diagnostically on the market dashboard, if you will, that would cause you to get cautious? >> anthony,...
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Nov 13, 2013
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word has it steve wynn might have been one of the bidders. the record for the most expensive work sold by a living artist also shattered last night, jeff koounz balloon dog went for $58 million sold by peter brant to a unknown buyer. here's a great view from inside what was a packed room last night. taken by one of our "power lunch" producers. you know, robert, you just got to wonder with numbers like that being bandied about, i mean we've talked before about whether or not the contemporary art market is in a bubble. what's your perspective on that? >> we've been talking about a bubble in the art market for at least four years and it goes higher. i think it's going to keep going higher not because of really the quality of art getting better but people, especially the wealthy, want a safe place to put their wealth so like many collectibles art is going to keep going up. >> that balloon dog may be great but it messes up the lawn. you have to clean it up after it. what about sotheby's they have an auction and what's on the block and could we see
word has it steve wynn might have been one of the bidders. the record for the most expensive work sold by a living artist also shattered last night, jeff koounz balloon dog went for $58 million sold by peter brant to a unknown buyer. here's a great view from inside what was a packed room last night. taken by one of our "power lunch" producers. you know, robert, you just got to wonder with numbers like that being bandied about, i mean we've talked before about whether or not the...